Idinvest et al. in $75m series-D round for Actility

New investors in the round include Creadev, Bosch and Inmarsat who join existing backers Idinvest, BPI France, Ginko Ventures, KPN, Orange Digital Ventures, Swisscom and Foxconn.

The transaction enables the full exit of Truffle Capital, which was the first investor to back Actility in 2010, providing €3m in exchange for a minority stake. The GP reports an IRR of 30% on the exit.

A second close later in the month is expected to see additional strategic investors join the already oversubscribed round.

The funding round will enable the company to develop industrial internet-of-things services in the logistics, smart building and energy and utilities sectors.

Previous funding
In October 2010, Truffle Capital invested €3m in Actility for a minority stake. The new capital was to be used to release the company's first product ThingPark. Then in October 2012, Truffle Capital re-invested along with BPI France, CDC enterprises and Electranova capital to raise an extra €7m for the company. The third round in June 2015 saw a larger syndicate as BPI France reinvested along with Ginko ventures, Idinvest, Swisscom, KPN, Orange and Foxconn to provide Actility with €22.75m.

Company
Founded in 2010, Actility produces machine-to-machine communication platforms. Its main product is ThingPark, a connected objects platform designed to decrease the electricity consumption during peak periods. The business is headquartered in Paris and employs 50 staff.

People
BPIfrance – Anne-Sophie Carrese (investment director)
Creadev – Florent Thomann (board member).
Ginko Ventures – Dominique Pitteloud (managing director).
KPN Ventures – Herman Kienhuis (managing director).
Swisscom Ventures – Stefan Kuentz (investment director).
Actility – Mike Mulica (CEO).

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